Brokerages Set Truist Financial Co. (NYSE:TFC) Price Target at $48.12

Shares of Truist Financial Co. (NYSE:TFC) have been assigned an average recommendation of “Hold” from the twenty-one brokerages that are currently covering the firm, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $48.53.

A number of equities research analysts have weighed in on TFC shares. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Compass Point lifted their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler raised their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. UBS Group upped their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th.

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Oddo BHF Asset Management Sas purchased a new stake in shares of Truist Financial during the third quarter valued at approximately $980,000. Inspire Trust Co. N.A. grew its holdings in Truist Financial by 13.9% during the 3rd quarter. Inspire Trust Co. N.A. now owns 75,000 shares of the insurance provider’s stock valued at $3,208,000 after purchasing an additional 9,163 shares in the last quarter. Peapack Gladstone Financial Corp lifted its holdings in Truist Financial by 0.6% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 311,802 shares of the insurance provider’s stock worth $13,336,000 after buying an additional 1,742 shares in the last quarter. Synovus Financial Corp boosted its position in Truist Financial by 27.1% in the 3rd quarter. Synovus Financial Corp now owns 556,243 shares of the insurance provider’s stock valued at $23,791,000 after buying an additional 118,692 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Truist Financial by 6.9% during the third quarter. Tidal Investments LLC now owns 62,803 shares of the insurance provider’s stock valued at $2,686,000 after acquiring an additional 4,029 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Truist Financial stock opened at $43.11 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $45.24 and a 200-day simple moving average of $42.49. Truist Financial has a 12 month low of $34.23 and a 12 month high of $49.06. The stock has a market capitalization of $57.23 billion, a PE ratio of -30.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Equities analysts predict that Truist Financial will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a $0.52 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.82%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.